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The global Over-The-Top (OTT) services market size is expected to grow from USD 81.6 billion in 2019 to USD 156.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.0%NEW YORK, Jan. 14, 2020 /PRNewswire/ -- Growth in the OTT services market with flexibility and ease-of-use to offer seamless customer experience Read the full report: https://www.reportlinker.com/p05838803/?utm_source=PRN The global Over-The-Top (OTT) services market size is expected to grow from USD 81.6 billion in 2019 to USD 156.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period. The major factors driving the growth of the OTT services market include internet proliferation with penetration of smart devices along with flexibility and ease-of-use to offer seamless customer experience. Media and entertainment service verticals segment to grow at the highest CAGR during the forecast period With the digitalization of media and entertainment mediums, the consumers' appetite for gaining access to the right information or preferred channels is growing increasingly.The players in the media and entertainment service vertical seek to interact with their consumers to achieve deeper customer engagement. Enterprises can easily communicate with their customers via messaging services. By utilizing OTT messaging services, enterprises can interact with their consumers to deliver media and advertising content via rich messaging channels. APAC OTT services market to grow at the highest CAGR during the forecast period Major economies in the Asia Pacific (APAC) include China, India, Australia, and Japan.The proliferation of smart devices, broadband, and internet connectivity, which is augmented by the emergence of advanced technologies, such as 5G, 4G, developed payment infrastructure, and a dynamic local content ecosystem, is driving the OTT services market forward. In APAC countries, VoD players such as YouTube, iQiyi, Tencent Video, Youku, ByteDance, Netflix, Amazon, Hotstar, and Hulu Japan, will account to a major share of revenue along with the huge penetration of instant messaging apps, such as WhatsApp, Facebook Messenger, Line, and WeChat. • By Company Type: Tier 1 – 15%, Tier 2 – 40%, and Tier 3 – 45% • By Designation: C-level – 40%, Directors – 35%, Managers-15% and Others – 10% • By Region: North America – 45%, Europe – 15%, APAC – 30%, and RoW – 10%. Some prominent players across all service types profiled in the study include Facebook (US), Netflix (US), Amazon (US), Microsoft (US), Google (US), YouTube (US), Apple (US), Home Box Office (US), Roku (US), IndieFlix (US), Vudu (US), Hulu (US), Tencent (China), Rakuten (Japan), Kakao (South Korea), and Line (Japan). Research Coverage The market study covers the OTT services market across different segments.It aims at estimating the market size and the growth potential of the market across different segments, such as type (online gaming, music streaming, VoD, communications, and others), streaming devices (smartphones and tablets, desktops and laptops, and IPTV and consoles), monetization model (subscription-based, advertising-based, and transaction-based), service vertical (media and entertainment, education and learning, service utilities, and gaming). The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. Key benefits of buying the report The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall OTT services market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities Read the full report: https://www.reportlinker.com/p05838803/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 SOURCE Reportlinker 
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